A Picture’s Worth A Thousand Snaps At SnapVillage
ADOTAS - SnapVillage, a microstock site empowered by Corbis, is starting to talk. The firm has been in beta since July of 2007, but the firm has decided that it is ready to start heavily marketing to be known as a formative player in the industry. The company will start advertising in North America in the first quarter of the year, focusing on the graphic and interactive design, web publishing and small business communities.
The firm has notably grown in the past three months with the number of transactions raising 400%, the number of images downloaded increased by 800% and the number of new accounts up by 60%. Sales in the past two weeks alone have gone up about 10%. “Since we are just starting larger scale marketing efforts, our growth to this point has been made possible by word-of-mouth viral marketing,” said Adam Brotman, SVP of SnapVillage and Corbis.
“With a rapidly improving website informed by user feedback and close to 200,000 images, we are now in an ideal position to direct more of our efforts toward increasing our customer base and image sales,” Brotman continued.
What differentiates SnapVillage from its competitors is really the price ranging of images on the site. Payments are made by credit card which solves the issue of credit packs, tokens and other pricing schemes. Photos can either be licensed individually at price-points ranging from $1-$50 or via a monthly subscription, which is $199 for 30 days with a 750 download cap.
The average transaction comes in at a promising $20. Average revenue per transaction is coming in at $7. The company also uses a scoring and rating algorithm internally which can determine the placement of images searched on the site, adjusting based on the response to an image. Photos can be sorted by the date added, keywords, and “snappyness” or popularity.
This model creates a mutually beneficial environment for photographers, consumers and the business itself. The curiosity not only lies in the rate at which the company may continue to grow, but how this growth may be indicative of the importance of all user-generated content.
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